Issues with tenants are "unavoidable" but are unlikely to concern real estate investment trusts (Reits) as most of them are diversified and have measures in place, said DBS Group amid news of some Reits being briefly impacted after CWT's parent defaulted on a loan agreement. "It's unavoidable, things happen to tenants," said DBS head of capital markets Eng-Kwok Seat Moey on Thursday, when asked how...
REITS
OUE Commercial Real Estate Investment Trust said on Monday (Apr 8) it would buy OUE Hospitality Trust in a cash-and-stock deal worth S$1.37 billion (US$1.01 billion), creating one of Singapore's largest REITs. Under the deal, OUE Commercial will issue 1.3583 new shares for every OUE Hospitality share, and pay S$0.04075 per share in cash. The total deal value is a premium of 1.6 per cent to OUE...
After a good run this year, S-Reits are likely to remain in vogue amid a more dovish Federal Reserve and room for further growth. Analysts pointed to hospitality and industrial Reits among their preferred sectors on the back of easing supply, although some highlighted that valuations in general have tightened and investors might do well to accumulate on pullbacks. "While investors could eye near-term...
Sabana Reit's divestment of a Tuas industrial building is off for now after the purchaser did not obtain approvals from JTC. The buyer Kim Soon Lee (Lim) Heavy Transport is not prepared to further extend the long-stop date, the Reit said in a Singapore Exchange filing on Saturday. In September 2018, Sabana had proposed to sell the building at 1 Tuas Avenue 4 for S$11.18 million in cash, 52 per cent...
Starhill Global Reit (SGREIT) secured greater visibility over the long-term outlook for two Kuala Lumpur malls after inking fresh master tenancy agreements for the Malaysian properties. In a Singapore Exchange filing on Monday night, the Reit's manager said that it had entered into new conditional agreements for the Starhill Gallery and Lot 10 malls in Bukit Bintang with the current master tenant,...
CapitaLand Commercial Trust, Singapore's biggest office landlord, is among suitors in talks about a potential acquisition of the Duo office and retail development in the city, people with knowledge of the matter said. The real estate investment trust has been negotiating the purchase of a 39-story office building called Duo Tower, along with the connected Duo Galleria mall, according to the people. The...
Serviced residence Ascott Raffles Place Singapore, which is housed within a restored 1950s heritage building, is set to be sold off for S$353.3 million by Ascott Residence Trust (Ascott Reit). The sale price is 64.3 per cent above the property’s latest valuation of S$215 million as at Dec 31, 2018, Ascott Reit said in a stock exchange filing on Wednesday (Jan 9). It said that the buyer is an...
Singapore's CapitaLand is buying the owner of a clutch of real estate investment trusts from state investor Temasek in a deal valued at S$11 billion that the developer said will create the largest diversified property group in Asia. CapitaLand will buy the holding companies of the business of the Ascendas-Singbridge Group, which manages Ascendas Real Estate Investment Trust, Ascendas India Trust and...
The manager of SPH Reit says it is hard to find good assets both locally and overseas, evidenced by the limited number of transactions completed in the market this year. Leong Horn Kee, chairman of the Reit manager, was asked by shareholders at the Reit's annual general meeting why it had only purchased a small strip mall like The Rail Mall this year, and whether it plans to ramp up its acquisitions...
Sabana Reit is selling a data centre in Tai Seng to the government-linked Ascendas-Singbridge Group, with the manager citing its strategy of divesting under‐performing and mature assets. The manager inked a conditional sale and purchase agreement on Wednesday to sell Geo‐Tele Centre for S$99.6 million to a trust, it said. Ascendas-Singbridge, which is jointly owned by state entities Temasek Holdings...